Anavex Life Sciences Corp (AVXL)

[jimmy667]

THIS RALLY HAS LEGS! Powerful reversal approx 10 days of volume in one day. One would expect that several institutions were buying and might be the buy and hold types not the flippers. If they hold a greater percentage of the float it might give the stock some solid support. That tall candle completely engulfed the price action and volume action of 4 trading days. Now we are trading at pre split levels before the confirmation of the July 22 results and before the FDA OK for the next trial. Essentially The FDA said we have seen enough data from the ongoing Ph2 to say it was a success so now time to begin the pivotal Ph2/3 trial.
Technically because of the volume and fundamentally because of the recent continued success in advancing the development . This rally has legs and we should see a higher trading range in just a few days. $8 to 10. If there is a high volume follow on Thurs and Friday it would confirm this move and put AVXL once again at a whole new valuation level.
I suspect there are professional research reports in the hands of the institutions now. I further suspect that the FDA and NIH are excited at these excellent Ph2 results.
AVXL looks like a clear winner to me and I will buy more at every opportunity.